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MOL Rejects Takeover Bid from OMV

10:52 AM MDT | August 7, 2007 | Chemical Week Editorial Staff

Energy and petrochemicals company MOL (Budapest) has rejected a “preliminary and conditional” takeover offer from OMV (Vienna). The proposal is “unsolicited and unwelcome,” MOL says. OMV has an 18.6% stake in MOL, which is the biggest shareholder in petrochemical producers TVK (Tiszaujvuaros, Hungary) and Slovnaft (Bratislava, Slovakia). OMV operates ethylene plants at Schwechat, Austria and Burghausen, Germany, and owns 35% of...

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